More than 10 percent of U.S. banking assets, violating Federal regulations. You know BushCo will do nothing about WF, JPMorgan Chase and Bank of America.
Joe Stiglitz (and, why isn’t he getting mentions for Treasury, OMB or CEA?) says banking consolidation is “a very serious problem.”
But, what about an Obama Administration? Will it do more than Bush?
And, will it address other concerns raised in the story about the dysfunctionality level of much modern American banking?
Given that Obama’s top choices for Treasury are anti-regulatory neolibs, likely answer is nothing.
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